LeadingAge MD/DC Joint Conference

Virtual Event: 

A conference “journey forward” created for leaders to connect in a forum where you can discuss the tough moments from the last year, hear ideas that can transform your organization, and make sure you and your teams are ready for the next wave of innovation in the aging services field. 

Session Date & Time: June 3, 2021 from 12pm-12:45pm.

Thought Leadership and Educational Session:

One Doesn’t Have to Be the Loneliest Number: How Single-Site LPCs Can Continue to Thrive

Melissa Messina conducts a high-level discussion of strategic planning for single site communities that do not involve merger and acquisition opportunities. Two single site life plan communities in Maryland – Broadmead, which is located in the rolling hills of Cockeysville, and Edenwald, which is more urban in Towson, will be featured providing in-depth experience and insights. One  LPC is situated in a more suburban/rural setting and one in a more urban setting – and will discuss their experience as the premier senior living providers in the area. In particular, an assessment of the key factors from an operational, financial, and leadership perspective that have converged and allowed the communities to cultivate their reputations for resident service and to thrive from a financial perspective, including commentary around advantages the communities have relative to larger, multi-site organizations. In addition, instead of conveying the fruits of those successes to a parent organization, the communities will discuss how they have been able to leverage their successes to continue improving their ability to respond to the needs of its current and future residents, with recent expansion activity. 

Learning Objectives:

  1. Discuss the key factors, emphasizing those with the greatest degree of transferability and those unique to single-site providers, that financially-sound single-site LPCs share.
  2. Provide insight into the approach to strategic planning of the communities, and how their status as a single-site provider adds to their overall flexibility with respect to decision-making.
  3. Learn from commentary regarding how strategic planning, specifically for the unique challenges that single-site providers face, has been and may in the future be affected as the world continues to emerge from the pandemic.

Featured Speakers:

  • Melissa Messina, Senior Vice President, HJ Sims
  • Mark Beggs, President and CEO, Edenwald
  • Robin Somers, President and CEO, Broadmead


As we continue to experience fluctuations in our capital markets, HJ Sims is committed to Tracking the COVID-19 Impact.

HJ Sims Partners with StoneCreek Real Estate Partners to Facilitate $3.8 million in Retroactive PACE Financing


CONTACT: Tara Perkins, AVP | 203-418-9049 | tperkins@hjsims.com

HJ Sims Partners with StoneCreek Real Estate Partners to Facilitate $3.8 million in Retroactive PACE Financing

FAIRFIELD, CT– HJ Sims (Sims), a privately held investment bank and wealth management firm founded in 1935, is pleased to announce a successful April 2021 Retroactive Property Assessed Clean Energy (PACE) financing in the amount of $3.8 million for StoneCreek Real Estate Partners (StoneCreek).

StoneCreek, a Dallas based developer, is a collaboration of professionals with 50+ years of combined experience in the operations, development and ownership of successful senior living communities in TX, CO and AZ. The operator, Civitas Senior Living (Civitas), is a Fort Worth, TX based for-profit owner/operator of senior living communities in TX, FL, OK, NM, KY and AZ. Founded in 2012, Civitas has 100+ corporate employees and manages 45+ senior living communities.

The StoneCreek Littleton development is new construction of a 92-unit senior housing community with 70 assisted living units and 22 memory care units. The community opened in January of 2020 and provides local access to quality senior housing and care in the Littleton area of Denver. With occupancy and operational challenges related to the COVID-19 pandemic, StoneCreek was exploring alternative capital sources to provide additional operational leverage when Sims proposed exploring retroactive PACE financing.

PACE is a Public/Private partnership that allows property owners to finance projects through voluntary assessments placed on the property by a state economic development agency. The program finances 100% of the energy efficiency, renewable energy, water conservation, resilience improvements and the related costs for construction and renovations/retrofits up to about 20% of the property’s appraised value. The financing is collected with regular local real estate taxes and assessment payments are amortized at a fixed-rate over the useful life of the project (15-25 years). The PACE program is typically considered an alternative source of financing to mezzanine debt where interest rates average between 12%-15%. In many states, PACE is allowed to be applied retroactively post-certificate of occupancy for qualified costs for a determinate amount of time.

Sims coordinated with StoneCreek, Civitas, the PACE loan provider and the Colorado PACE Authority for approval for PACE financing from the senior construction lender. Despite the atypical nature of the program, the financing team satisfied the concerns of the senior construction lender while also navigating the various regulatory challenges associated with multi-party financings.

StoneCreek, with the guidance of Sims, was able to borrow $3.8 million in PACE financing at 5.85% to finance necessary operating expenses related to an early 2020 opening and the ensuing impact of the Pandemic.

Financed Right® Solutions— James Rester: 901.652.7378 | jrester@hjsims.com, Curtis King: 603.219.3158 | cking@hjsims.com or Ryan Snow: 843.870.4081 | rsnow@hjsims.com.

ABOUT HJ SIMS: Founded in 1935, HJ Sims is a privately held investment bank and wealth management firm. Headquartered in Fairfield, CT, Sims has nationwide investment banking, private wealth management and trading locations. Member FINRA, SIPC. Testimonials may not be representative of another client’s experience. Past performance is no guarantee of future results.  Facebook, LinkedIn, TwitterInstagram.


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